As you may have noticed by following our M2E series, there are quite a number of projects with similar mechanics; where Sneakers act as in-game NFTs. VicMove isn’t any different. In this article, we will explore whether it is worth investing in.
How does it work?
VicMove has exactly the same game mechanics as its most popular counterpart, Stepn. To start earning, you need to install the app, connect your wallet to it and purchase a sneaker at the in-game marketplace.
To track your workout activity, an in-app tracker is used. The user has to manually start and end the activity. GPS, motion sensors, and gyroscopes accurately track your activity data to ensure correct reports.
Once you have acquired the sneaker NFT, you will get daily energy which will determine the maximum time available for which to workout and earn. Once your energy is depleted, you will not be able to earn anything, although you can still continue your workout
In the closed beta phase of the app, you will get 10 energy points for each Sneaker you own, which is basically equal to 10 minutes of workout (1 energy = 1 min). Energy will be given to you in multiple intervals (10 energy for each Sneaker that you own, reset at 0:00 GMT).
There are 4 types of Sneakers available in the app: walking, running, cycling and versatile. The price for the shoe box is ~1 BNB (~$280).
Every sneaker has its own attributes: comfort, luck and stamina.
Sneakers have 100 comfort points at the beginning. Every minute of moving activity loses you 3 comfort points. Leveling up reduces damage to your Sneaker. The more lucky points you have, the more often you receive higher rewards for each time you move. Sneakers have 100 stamina points at the beginning. Every minute moving activity loses you 3 stamina points.
You can level up your sneaker to increase its stats. A new sneaker will start from level 0 and can go up to level 50. More information about pumping Sneakers is available in the whitepaper.
Users will have the option to choose between earning either $VIM token or pieces of a VICMOVE box (180 pieces create 1 complete VICMOVE box) at Level 30. Users can switch between these two earning modes freely.
Total Supply: 50,000,000
Self Reported Circulating Supply: 50,000,000
Should I invest in VicMove?
Generally, the project does not seem very promising. The tokenomics are not covered appropriately, and there are no links to the profiles of the team members. We would also advise doing your own comprehensive research before joining, since you cannot start for free.